Qorvo, Inc. (NASDAQ:QRVO) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,784 shares of the semiconductor company’s stock after buying an additional 12,091 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Qorvo worth $6,978,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QRVO. Assenagon Asset Management S.A. lifted its stake in Qorvo by 377.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 816,882 shares of the semiconductor company’s stock worth $57,125,000 after purchasing an additional 645,829 shares during the last quarter. KBC Group NV lifted its stake in Qorvo by 144.8% in the fourth quarter. KBC Group NV now owns 1,077,196 shares of the semiconductor company’s stock valued at $75,328,000 after buying an additional 637,087 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Qorvo by 140.2% in the third quarter. Thrivent Financial for Lutherans now owns 835,336 shares of the semiconductor company’s stock valued at $86,290,000 after buying an additional 487,621 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Qorvo by 78.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock valued at $55,548,000 after buying an additional 236,590 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Qorvo in the third quarter valued at approximately $22,726,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Qorvo Stock Up 1.2 %

Qorvo stock opened at $78.89 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.78 and a current ratio of 2.60. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 281.75, a price-to-earnings-growth ratio of 15.38 and a beta of 1.41. Qorvo, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $130.99. The stock’s fifty day moving average is $76.41 and its two-hundred day moving average is $87.42.

Insider Activity

In other news, SVP Philip Chesley sold 4,045 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QRVO shares. The Goldman Sachs Group reduced their price objective on Qorvo from $99.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Morgan Stanley upgraded Qorvo from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $90.00 to $106.00 in a research note on Tuesday, January 21st. UBS Group cut their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Mizuho upped their price target on Qorvo from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Barclays dropped their price objective on Qorvo from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Qorvo has an average rating of “Hold” and an average price target of $95.84.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.